If you are in a big hurry, your best option is simply to make more money. Frankly, I think most people dramatically overestimate the difficulty ofdoubling their income. While it may be harder to double your income if you are a high-paid surgeon working 60 hours a week than if you're ...
Also, it’s good for people who want to leave money to their heirs if they can but will be okay if their heirs receive nothing due to long-term care having exhausted the policy. That being said, some policies may still pay heirs something even if that happens. For example, Nationwide...
But one thing that all of these strategies have in common is that they work better the earlier they’re established. So often, owners wait to plan until there’s a deal pending, or they’ve had a health scare, or some other event occurs that forces them to want to plan. But entrepren...
Speaking candidly about money with your aging parents may appear to be an insurmountable task. Fortunately, Cameron Huddleston has some tips.
For example, do you want to preserve the value of the principal over time and perhaps leave money for heirs? Or do you intend to spend this principal down over retirement? If we take the $50,000 annual income goal at face value, then a required return of 5% is achiev...
Despite these factors, guaranteed issue can be a valuable financial asset for people who can’t otherwise get insurance. And those people aren’t always seniors; they may be younger or middle-aged adults in poor health who want to leave money for their families. ...
And for those who can, it can quickly deplete their retirement savings or the estate they plan to leave for their heirs. Fortunately, there are a few strategies that may help reduce nursing home costs and help stretch those dollars further. Find out more about your long-term care policy ...
Home equity is the difference between what you owe on a mortgage and the value of your home. Learn how it works, how to use it and why it’s so important.
If the investments in the GRAT outperform the annuity paid back to the grantor, the assets remaining in the trust may be transferred to heirs free of estate and gift taxes. This, of course, assumes the GRAT is "zeroed out", which means that the annuity consists of repayment of the ...
However,as the legal-information site Nolo notes, “In most states, your executor will have no legal authority to access your digital assets.” Instead, you’ll have to provide someone you trust with instructions on what you want to be done. You might leave money to that person with the ...